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Article: State Auto Financial Reports Third Quarter 2009 Results.(Financial report)
- Article from:
- Insurance Weekly News
- Article date:
- November 6, 2009
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State Auto Financial Corporation (NASDAQ:STFC) reported third quarter 2009 net income of $13.0 million, or $0.33 per diluted share, versus a net loss of $14.7 million, or $0.37 per diluted share, for the third quarter of 2008. Net income from operations* per diluted share for the third quarter of 2009 was $0.27 versus a net loss of $0.30 for the same 2008 period.
STFC's GAAP combined ratio for the quarter was 102.5 versus 116.2 for the third quarter of 2008. Catastrophe losses, net of loss recoveries under the company's aggregate catastrophe reinsurance treaty, accounted for 3.6 points of the total 68.3 loss ratio points, or $10.8 million, during the third ...